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Got LLC then what next? [Advice Needed]

Discussion in 'Business & Tax Advice' started by CoolBro, May 16, 2012.

  1. CoolBro

    CoolBro Junior Member

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    Occupation:
    Poor College Student - FML
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    I found my LLC in Delaware using register agent and right now in NY.
    I need a lot of advice. For example what is the tax recording requirement.
    I outsource some work online, how should I record it. In another way of saying how should I make it business expense.
    How I file tax?

    Looking forward for your great advice!



     
  2. mrlawless

    mrlawless Newbie

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    You need to keep compliance ... where each state is different , ... in easy to understand words: KEEP YOUR COMPANY HEALTHY ...

    GET LICENCE - FOR YOUR BUSINESS PURPOSE TO AVOID , costly penalty from Government.

    get all necessary taxes you need to be done ...
     
  3. GlobalSolutions

    GlobalSolutions Jr. VIP Jr. VIP Premium Member

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    I would recommend a DE LLC as there is not State Tax if you operate outside of the State. However, you will still have to pay Federal Tax.
     
  4. jdog37

    jdog37 Power Member

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    Hire a cpa for such advice. You will only get opinions here and although valuable, they may not apply to your situation.

    A cpa from your state can answer all your questions and help you avoid any potential problems in the future.
     
    • Thanks Thanks x 1
  5. graphite2823

    graphite2823 Newbie

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    dont do delaware - they have high annual maintenance fee :p do florida like Im doing - no tax if 1 member llc and smallest annual fee
     
  6. aamizan

    aamizan Newbie

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    If you started an LLC by yourself, then your best choice would be to file Sch. C on your regular tax return.
    That would be the cheapest and simplest way. If you have other partners, you will need to file a partnership tax return.
    Unless of course you chose to be taxed as a corporation. In that case, you will need to file corporate tax returns. that is rare though and it's only done if you have a specific reason.
    Now, with regards to state, in general, if you operate out of one state, then you will need to register there but not sure what exactly you've done or you still need help with any of this. Each case is different but i'll be happy to help. If you'd like PM me. We are an accounting firm for small business and we do those all the time.
     
  7. Tsmash

    Tsmash Regular Member

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    you need to talk to a CPA or at least a lower level accountant.
     
  8. flexpaydude

    flexpaydude Regular Member

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    CPA or you're looking for trouble. You can actually loose the protection afforded by an LLC if you don't set up and properly maintain.